Please use this identifier to cite or link to this item: http://buratest.brunel.ac.uk/handle/2438/868
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dc.contributor.authorRaybaudi, M-
dc.contributor.authorSola, M-
dc.contributor.authorSpagnolo, F-
dc.coverage.spatial8en
dc.date.accessioned2007-06-26T20:12:21Z-
dc.date.available2007-06-26T20:12:21Z-
dc.date.issued2003-
dc.identifier.citationEconomics and Finance Working papers, Brunel University, 03-14en
dc.identifier.urihttp://bura.brunel.ac.uk/handle/2438/868-
dc.description.abstractThis paper proposes a method to asses the potential problems of sustainability of a country’s sovereign debt. We claim that the relevant variables used for this analysis are typically subject to changes which are associated with changes in macroeconomics policies. We propose a procedure for identifying periods under which the trade deficit and the current account accumulate at a nonstationary rate. Our approach is based on imposing identifying restrictions on Markov switching type models. An empirical application of the procedure to UK data is examined and discussed. We find that periods of non-stationary trade deficits typically coincide with current account crises.en
dc.format.extent217978 bytes-
dc.format.mimetypeapplication/pdf-
dc.language.isoen-
dc.publisherBrunel Universityen
dc.subjectDeficits Sustainability; Markov Switching ADF.en
dc.titleRed Signals: Trade Deficits and the Current Accounten
dc.typeResearch Paperen
Appears in Collections:Dept of Economics and Finance Research Papers

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